First Commonwealth Financial Co. (NYSE:FCF) Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of First Commonwealth Financial Co. (NYSE:FCF - Free Report) by 20.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 612,832 shares of the bank's stock after selling 153,341 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.60% of First Commonwealth Financial worth $10,510,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of First Commonwealth Financial by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank's stock worth $96,503,000 after purchasing an additional 233,955 shares during the period. American Century Companies Inc. raised its holdings in First Commonwealth Financial by 29.9% in the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank's stock valued at $23,107,000 after buying an additional 384,892 shares during the period. Bank of New York Mellon Corp lifted its position in First Commonwealth Financial by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank's stock valued at $16,702,000 after buying an additional 33,759 shares in the last quarter. Principal Financial Group Inc. grew its stake in First Commonwealth Financial by 7.2% during the third quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank's stock worth $9,243,000 after buying an additional 36,001 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of First Commonwealth Financial by 0.6% in the second quarter. Federated Hermes Inc. now owns 291,757 shares of the bank's stock worth $4,029,000 after acquiring an additional 1,850 shares in the last quarter. Institutional investors and hedge funds own 72.58% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler decreased their price target on shares of First Commonwealth Financial from $17.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on First Commonwealth Financial from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. StockNews.com downgraded First Commonwealth Financial from a "hold" rating to a "sell" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price target on First Commonwealth Financial from $16.00 to $18.00 and gave the stock a "market perform" rating in a report on Thursday, July 25th. Finally, Janney Montgomery Scott lowered shares of First Commonwealth Financial from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $16.00 to $19.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.30.

Insiders Place Their Bets

In related news, EVP Michael P. Mccuen bought 2,919 shares of the business's stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the purchase, the executive vice president now owns 57,623 shares of the company's stock, valued at $979,014.77. This represents a 5.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.97% of the stock is currently owned by corporate insiders.

First Commonwealth Financial Stock Up 2.5 %

Shares of FCF stock traded up $0.46 during mid-day trading on Friday, reaching $19.21. 491,247 shares of the company were exchanged, compared to its average volume of 517,094. The company has a market capitalization of $1.95 billion, a P/E ratio of 12.66 and a beta of 0.83. The business's 50 day simple moving average is $17.29 and its 200 day simple moving average is $15.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.92. First Commonwealth Financial Co. has a fifty-two week low of $12.41 and a fifty-two week high of $19.50.

First Commonwealth Financial (NYSE:FCF - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The firm had revenue of $121.21 million for the quarter, compared to analyst estimates of $119.47 million. First Commonwealth Financial had a net margin of 21.87% and a return on equity of 11.19%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. Research analysts predict that First Commonwealth Financial Co. will post 1.4 earnings per share for the current year.

First Commonwealth Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, November 8th. First Commonwealth Financial's dividend payout ratio is presently 35.14%.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.